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1031 Exchange Portland, Maine

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Portland due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Portland, Maine is a part of the Portland-South Portland, ME metropolitan area, and contains 9 zip codes, including: 04109, 04124, 04102, 04112, 04123, and 04103.

Portland Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Portland, ME metropolitan area was $1,284, which is 19.00% lower than 2014 average rent. This represents a compounded annual growth rate of 3.54%. 2019 vacancy in Portland, ME was 3.90%.

The total population of the city of Portland, ME has grown 0.34% since 2010. As of 2018, the population was 66,417. The median household income of the Portland was $56,977, which is 5.50% lower than the national average.

  • metropolitan area Portland-South Portland, ME
  • avg rent $1,284
  • rent growth 19.00%
  • vacancy 3.90%
  • median income $56,977
  • population (2018) 66,417
  • population growth 0.34%
  • vs. nat'l avg 5.50%
  • zip codes 04101 04102 04103 04104 04109 04112 04122 04123 04124

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